Vendor Management, Payments, and Collections (VMPC) FAQ
Guidance for FAQ regarding Payment Processing and General Information
Program Area: Vendor Management, Payments, and Collections (VMPC)
Question: In guidance posted for issuers on February 13, 2015, HHS extended until April 30, 2016, the deadline for issuers to decide whether to use the standard methodology to reconcile 2014 benefit year cost-sharing reductions. May issuers make a similar election at that time for the 2015 benefit year?
Answer: Yes. Although issuers must notify HHS of their choice of methodology for the 2015 benefit year by March 31, 2015, under our recent guidance, issuers that previously selected the simplified methodology may switch to the standard methodology up until the deadline for submitting cost-sharing reduction reconciliation data on April 30, 2016. As we noted in that guidance, issuers that previously selected the standard methodology may not switch back to the simplified methodology.
Issued by: Centers for Medicare & Medicaid Services (CMS)
Issue Date: March 16, 2015
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